Gretchen Morgenson: When Banks Erase Debt That Isn't There

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Gretchen Morgenson: When Banks Erase Debt That Isn’t There

Gretchen Morgenson: When Banks Erase Debt That Isn’t There

Welcome to another episode of The Twilight Zone!

New York Times-

GREETINGS, unhappy homeowners! Here’s some wonderful news:

“We are canceling the remaining amount you owe Chase!” says a letter that JPMorgan Chase sent recently to thousands of home loan borrowers. “You are approved for a full principal forgiveness of your Home Equity Account,” says another, from Bank of America.

Jackie Esposito, of Guilford, Conn., got a letter like that. But she wasn’t elated — because she doesn’t owe the money anymore. She and her husband filed for bankruptcy three years ago. The roughly $64,000 they owed Chase has been legally wiped out.

What’s going on?

[NEW YORK TIMES]

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3 Responses to “Gretchen Morgenson: When Banks Erase Debt That Isn’t There”

  1. Sarah says:

    ‘You’re traveling through another dimension, a dimension not only of sight and sound but of mind. A journey into a wondrous land of bailed out banksters and indebted waifs, protected by Joe Smith. Next stop, the Twilight Zone! ‘

  2. CALL ALL YOUR CONTACTS FREINDS NEIGHBORS FAMILY AND ASK THEM TO CONTACT ALL YOUR GOVERNMENT REPRESENATIVES.

    Please send this to bloggers and facebook and all friends and neighbors and all to contact your represenatives. Dont allow this sherade to happen. Demand justice.

    Servicer are continueing to use robo signed docs and debt they could not get to begin with as principle reduction. THIS IS A CRIME ON TOP OF A CRIME.

    WE ARE IN THE FLIPPIN TWILIGHT ZONE!

    http://4closurefraud.org/2012/09/28/servicers-will-meet-each-and-every-standard-in-25b-foreclosure-settlement/

    http://4closurefraud.org/2012/08/29/outrageous-the-short-sale-scam-most-going-to-non-recourse-states-that-bar-deficiency-judgments/

    There is no accountability therefore fraud robo signing continues to be used to foreclose

    The banks were giving principle reduction to homeowners before the settlement to get them to sign onto a debt they did not owe this party to get a signature from a homeowner they could not drag into foreclosure. Look at all these docs. The bankster are only pretending to pay for the crime while committing a crime and scamming the AG and the people. This is no settlement but manipulation and a continued scam. Laughing at your offices all the way to the bank vault.

    This did not keep homeowners in foreclosure in their homes. Only people not in foreclosure and new owners throwing out the real homeowner. WHAT A FLIPPIN BAD JOKE.

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